LeMaitre Vascular (LMAT)
Market Price (5/22/2026): $99.49 | Market Cap: $2.3 BilSector: Health Care | Industry: Health Care Equipment
LeMaitre Vascular (LMAT)
Market Price (5/22/2026): $99.49Market Cap: $2.3 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 29% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% Low stock price volatilityVol 12M is 37% Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management. | Weak multi-year price returns2Y Excs Rtn is -10%, 3Y Excs Rtn is -22% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 26x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x, P/EPrice/Earnings or Price/(Net Income) is 36x Key risksLMAT key risks include [1] navigating complex, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 29% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease. Themes include Geriatric Care, and Diabetes Management. |
| Weak multi-year price returns2Y Excs Rtn is -10%, 3Y Excs Rtn is -22% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 26x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x, P/EPrice/Earnings or Price/(Net Income) is 36x |
| Key risksLMAT key risks include [1] navigating complex, Show more. |
Qualitative Assessment
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LeMaitre Vascular (LMAT) stock has gained about 20% since 1/31/2026 because of the following key factors:
1. Exceeded Q1 2026 Earnings Expectations and Raised Full-Year Guidance. LeMaitre Vascular reported diluted earnings per share (EPS) of $0.68 for Q1 2026, surpassing the consensus estimate of $0.66 by $0.02, marking a 42% increase from the prior year. The company also raised its full-year 2026 adjusted EPS guidance to $3.00, representing 26% growth, and affirmed its revenue guidance at $280 million, implying 12% organic growth.
2. Significant Gross Margin Expansion and Operating Income Growth. For the first quarter of 2026, LeMaitre Vascular achieved a gross margin of 72.7%, an increase of 350 basis points compared to Q1 2025, primarily driven by higher average selling prices and manufacturing efficiencies. Operating income also saw a substantial 41% year-over-year increase, reaching $17.8 million.
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1. Exceeded Q1 2026 Earnings Expectations and Raised Full-Year Guidance. LeMaitre Vascular reported diluted earnings per share (EPS) of $0.68 for Q1 2026, surpassing the consensus estimate of $0.66 by $0.02, marking a 42% increase from the prior year. The company also raised its full-year 2026 adjusted EPS guidance to $3.00, representing 26% growth, and affirmed its revenue guidance at $280 million, implying 12% organic growth.
2. Significant Gross Margin Expansion and Operating Income Growth. For the first quarter of 2026, LeMaitre Vascular achieved a gross margin of 72.7%, an increase of 350 basis points compared to Q1 2025, primarily driven by higher average selling prices and manufacturing efficiencies. Operating income also saw a substantial 41% year-over-year increase, reaching $17.8 million.
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Stock Movement Drivers
Fundamental Drivers
The 17.7% change in LMAT stock from 1/31/2026 to 5/21/2026 was primarily driven by a 10.0% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 84.56 | 99.52 | 17.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 241 | 256 | 6.4% |
| Net Income Margin (%) | 22.1% | 24.3% | 10.0% |
| P/E Multiple | 35.9 | 36.4 | 1.2% |
| Shares Outstanding (Mil) | 23 | 23 | -0.6% |
| Cumulative Contribution | 17.7% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| LMAT | 17.7% | |
| Market (SPY) | 7.6% | 14.0% |
| Sector (XLV) | -3.9% | 8.9% |
Fundamental Drivers
The 15.7% change in LMAT stock from 10/31/2025 to 5/21/2026 was primarily driven by a 21.3% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 86.00 | 99.52 | 15.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 235 | 256 | 9.2% |
| Net Income Margin (%) | 20.1% | 24.3% | 21.3% |
| P/E Multiple | 41.3 | 36.4 | -11.9% |
| Shares Outstanding (Mil) | 23 | 23 | -0.8% |
| Cumulative Contribution | 15.7% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| LMAT | 15.7% | |
| Market (SPY) | 9.5% | 15.7% |
| Sector (XLV) | 3.6% | 12.8% |
Fundamental Drivers
The 11.0% change in LMAT stock from 4/30/2025 to 5/21/2026 was primarily driven by a 21.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 89.70 | 99.52 | 11.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 220 | 256 | 16.6% |
| Net Income Margin (%) | 20.0% | 24.3% | 21.6% |
| P/E Multiple | 45.8 | 36.4 | -20.7% |
| Shares Outstanding (Mil) | 23 | 23 | -1.3% |
| Cumulative Contribution | 11.0% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| LMAT | 11.0% | |
| Market (SPY) | 35.5% | 17.9% |
| Sector (XLV) | 7.3% | 15.6% |
Fundamental Drivers
The 89.8% change in LMAT stock from 4/30/2023 to 5/21/2026 was primarily driven by a 90.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.44 | 99.52 | 89.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 162 | 256 | 58.5% |
| Net Income Margin (%) | 12.8% | 24.3% | 90.7% |
| P/E Multiple | 56.0 | 36.4 | -35.0% |
| Shares Outstanding (Mil) | 22 | 23 | -3.4% |
| Cumulative Contribution | 89.8% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| LMAT | 89.8% | |
| Market (SPY) | 85.6% | 29.8% |
| Sector (XLV) | 16.6% | 25.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LMAT Return | 25% | -7% | 25% | 64% | -11% | 25% | 163% |
| Peers Return | 20% | -32% | 6% | 9% | 25% | -12% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| LMAT Win Rate | 50% | 42% | 67% | 67% | 33% | 80% | |
| Peers Win Rate | 47% | 42% | 52% | 47% | 55% | 32% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| LMAT Max Drawdown | -26% | -25% | -33% | -16% | -25% | -17% | |
| Peers Max Drawdown | -31% | -51% | -39% | -27% | -30% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ANGO, AORT, TFX, PEN, MDT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | LMAT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.3% | -18.8% |
| % Gain to Breakeven | 32.1% | 23.1% |
| Time to Breakeven | 324 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.7% | -9.5% |
| % Gain to Breakeven | 40.2% | 10.5% |
| Time to Breakeven | 125 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.0% | -24.5% |
| % Gain to Breakeven | 31.5% | 32.4% |
| Time to Breakeven | 84 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.3% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -39.8% | -19.2% |
| % Gain to Breakeven | 66.0% | 23.8% |
| Time to Breakeven | 359 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -13.7% | -12.2% |
| % Gain to Breakeven | 15.8% | 13.9% |
| Time to Breakeven | 14 days | 62 days |
In The Past
LeMaitre Vascular's stock fell -24.3% during the 2025 US Tariff Shock. Such a loss loss requires a 32.1% gain to breakeven.
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| Event | LMAT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.3% | -18.8% |
| % Gain to Breakeven | 32.1% | 23.1% |
| Time to Breakeven | 324 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.7% | -9.5% |
| % Gain to Breakeven | 40.2% | 10.5% |
| Time to Breakeven | 125 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -24.0% | -24.5% |
| % Gain to Breakeven | 31.5% | 32.4% |
| Time to Breakeven | 84 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.3% | 50.9% |
| Time to Breakeven | 37 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -39.8% | -19.2% |
| % Gain to Breakeven | 66.0% | 23.8% |
| Time to Breakeven | 359 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -21.1% | -17.9% |
| % Gain to Breakeven | 26.7% | 21.8% |
| Time to Breakeven | 667 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -71.2% | -53.4% |
| % Gain to Breakeven | 246.8% | 114.4% |
| Time to Breakeven | 603 days | 1085 days |
In The Past
LeMaitre Vascular's stock fell -24.3% during the 2025 US Tariff Shock. Such a loss loss requires a 32.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About LeMaitre Vascular (LMAT)
LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. It offers angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; perfusion catheters to perfuse the blood and other fluids into the vasculature; and thrombectomy catheters, which features a silicone balloon for removing thrombi in the venous system. The company also provides carotid shunts that temporarily shunt the blood to the brain during the removal of plaque from the carotid artery in a carotid endarterectomy surgery; and radiopaque tape, a medical-grade tape applied to the skin that enables interventionists to cross-refer between the inside and the outside of a patient's body, and allows them to locate tributaries or lesions beneath the skin. In addition, it offers valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and vascular grafts to bypass or replace diseased arteries. Further, the company provides vascular and cardiac patches, which are used for closure of vessels after surgical intervention; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.
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- Stryker for vascular surgeons.
- A specialized Medtronic for peripheral vascular devices.
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- Angioscope: A fiberoptic catheter used for viewing the lumen of a blood vessel.
- Embolectomy Catheters: Used to remove blood clots from arteries or veins.
- Occlusion Catheters: Temporarily occlude blood flow.
- Perfusion Catheters: Perfuse blood and other fluids into the vasculature.
- Thrombectomy Catheters: Feature a silicone balloon for removing thrombi in the venous system.
- Carotid Shunts: Temporarily shunt blood to the brain during carotid endarterectomy surgery.
- Radiopaque Tape: A medical-grade tape applied to the skin for cross-referencing between inside and outside of a patient's body.
- Valvulotomes: Cut or disrupt valves in the saphenous vein to function as an artery.
- Vascular Grafts: Bypass or replace diseased arteries.
- Vascular and Cardiac Patches: Used for closure of vessels after surgical intervention.
- Closure Systems: Attach vessels to one another with titanium clips instead of sutures.
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LeMaitre Vascular (LMAT) sells specialized medical devices and implants primarily to other companies and institutions, not directly to individuals.
Based on the provided company description, specific names of major customer companies are not identified. However, the company states it "markets its products through a direct sales force and distributors."
Therefore, LeMaitre Vascular's major customers are generally:
- Hospitals and Surgical Centers: These medical institutions directly purchase and utilize the company's devices and implants for surgical procedures related to peripheral vascular disease.
- Medical Device Distributors: These companies purchase LeMaitre Vascular's products and then sell them to various healthcare providers and institutions.
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George W. LeMaitre, Chairman & CEO
George W. LeMaitre has served as Chief Executive Officer and a member of the Board of Directors of LeMaitre Vascular since 1992, and as Chairman since 2004. His father, Dr. George D. LeMaitre, founded the company (originally named Vascutech) in 1983, and George W. LeMaitre joined in 1992, helping to grow it from a family-owned business into a publicly held global provider of medical devices. Prior to joining LeMaitre, he worked as an investment banking analyst at Lehman Brothers, an associate at the leveraged buyout firm McCown De Leeuw, and a credit analyst for Connecticut National Bank.
Dorian LeBlanc, CFO
Dorian LeBlanc joined LeMaitre Vascular as Chief Financial Officer in March 2025.
David B. Roberts, President, Board Director
David B. Roberts has served as President of LeMaitre Vascular since 2007 and as a member of its Board of Directors since 2001. He joined the company in 1997 as Vice President of Business Development and was promoted to Chief Financial Officer in 2000, a position he held until 2007. Before LeMaitre Vascular, Mr. Roberts worked at BUCA, Inc. from 1994 to 1997 and as an Associate at HarbourVest Partners, a private equity firm, from 1992 to 1994.
Trent G. Kamke, SVP, Operations
Trent G. Kamke has served as Senior Vice President, Operations since 2005. He joined LeMaitre Vascular in 1997 as Quality Assurance Manager and served as Vice President, Operations from 1999 to 2005. Prior to joining the company, Mr. Kamke was employed by Haemonetics Corporation.
Jonathan W. Ngau, SVP, Information Technology
Jonathan W. Ngau has served as Senior Vice President, Information Technology since April 2024. Since joining LeMaitre Vascular in 1996, Mr. Ngau has been responsible for implementing and managing all information technology, application development, infrastructure operations, business intelligence, compliance, and cybersecurity for the company's facilities. He previously served as Director of Information Technology in 2000 and Vice President, Information Technology in 2003.
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The key risks to LeMaitre Vascular's business operations include navigating a dynamic regulatory landscape, intense competition coupled with technological shifts in treatment modalities, and pressures related to healthcare spending, pricing, and reimbursement.
- Dynamic Regulatory Landscape and Product Approvals: As a medical device company, LeMaitre Vascular operates within a highly regulated industry. The company faces ongoing risks associated with obtaining and maintaining regulatory approvals for its products across various global markets. A dynamic regulatory landscape presents continuous challenges, and regulatory hurdles can significantly impede international expansion and impact profit margins.
- Competition and Technological Shifts: LeMaitre Vascular operates in a competitive market, facing challenges from larger medical technology companies with broader product portfolios and more extensive distribution networks. There is also a risk of market share erosion due to the industry's shift towards minimally invasive endovascular procedures, which could render some of LeMaitre Vascular's open vascular surgery products less competitive or potentially obsolete over time. The company's focus on a relatively narrow set of vascular products makes it potentially more exposed if major competitors aggressively enter overlapping procedure areas.
- Healthcare Spending, Pricing, and Reimbursement Pressures: The company is susceptible to external pressures on healthcare spending, including lower reimbursement rates and slower adoption rates internationally, which could negatively impact future earnings. Insurers' tactics to manage medical loss ratios can also lead to downward pressure on reimbursement rates for healthcare providers, ultimately affecting demand and pricing for LeMaitre Vascular's devices.
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LeMaitre Vascular (LMAT) operates within several addressable markets for its specialized medical devices and implants. The company estimates that the annual worldwide market for peripheral vascular devices exceeds $9 billion, with approximately $1 billion of that market addressable by LeMaitre Vascular's specific products.
Here are the addressable market sizes for some of LeMaitre Vascular's main products:
- Artegraft: The total addressable market for Artegraft in Europe is estimated to be approximately $30 million.
- Vascular Grafts: The global vascular grafts market was estimated at USD 1.7 billion in 2023 and is projected to reach USD 2.8 billion by 2030. Another estimate places the global market at USD 3.6 billion in 2024, with projections to reach USD 7.3 billion by 2034.
- Embolectomy Catheters: The global embolectomy balloon catheter market size was valued at approximately USD 1.2 billion in 2023 and is anticipated to reach USD 2.4 billion by 2032.
- Carotid Shunts: The global carotid shunt market was valued at $119 million in 2023 and is expected to increase to $147 million by 2030.
- Valvulotomes (Cardiac Valvulotome): The global cardiac valvulotome market size was estimated at USD 115.87 million in 2024 and is predicted to reach approximately USD 184.51 million by 2034.
- Vascular and Cardiac Patches (Cardiovascular and Soft Tissue Repair Patches): The global cardiovascular and soft tissue repair patches market size was estimated at USD 3.8 billion in 2021 and is projected to reach USD 7.8 billion by 2030. More recent estimates value the market at USD 4.84 billion in 2024, with projections to grow to USD 10 billion by 2033.
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LeMaitre Vascular, Inc. (LMAT) anticipates several key drivers of future revenue growth over the next two to three years: * Strategic Price Increases: The company has demonstrated consistent pricing power, with organic revenue growth in Q4 2025 driven significantly by a 9% price increase, alongside unit gains. Management has also guided for an approximate 8% blended U.S. price increase for 2026, indicating this will continue to be a factor in revenue growth. * International Expansion and Market Penetration: LeMaitre Vascular is actively pursuing growth in international markets, as evidenced by strong regional performance in EMEA (29% growth) and APAC (20% growth) in full-year 2025. The international rollout of its Artegraft product is a significant driver, with 2025 sales doubling initial guidance and a projected $10 million in international Artegraft sales for 2026. The company is also expanding its direct sales model into new countries, such as Poland and other European markets, and is pursuing approvals for Artegraft in various countries including Canada, Australia, Japan, Korea, Thailand, and Singapore. * Growth from Key Product Lines, particularly Artegraft: Strong demand for existing key product lines, such as grafts (up 27%), valvulotomes (up 20%), and shunts (up 18%) in Q4 2025, continues to contribute to revenue. Artegraft, a biologic graft, is a major focus, being the largest U.S. product in 2024 and expected to drive substantial growth internationally. * Expansion of Direct Sales Force: LeMaitre Vascular is investing in its sales team, having added 12 new sales professionals in Q1 2024 and planning for a larger sales force in 2026. This expansion of its commercial footprint is expected to enhance market penetration and drive increased sales.AI Analysis | Feedback
Share Repurchases
- On February 19, 2026, LeMaitre Vascular's Board of Directors authorized a new share repurchase program for up to $100.0 million of its common stock. This program is effective until February 18, 2027, unless extended.
- Previously, on February 18, 2025, the Board authorized a share repurchase program of up to $75.0 million of common stock, which was set to conclude on February 17, 2026.
Share Issuance
- LeMaitre Vascular's shares outstanding increased by 0.66% in the year prior to March 2026.
- From December 31, 2021, to September 30, 2025, the company's shares outstanding increased from 0.021 billion to 0.024 billion.
- Insider buying activity included the Chairman and CEO, George W. LeMaitre, acquiring 47,440 shares in the 90 days leading up to February 15, 2026.
Outbound Investments
- LeMaitre Vascular acquired the business and assets of Artegraft, Inc. for $90.0 million. This included $72.5 million in cash paid at closing (with $7.5 million in escrow to be released by December 31, 2021) and potential earnout payments of $17.5 million based on future sales. The acquisition expanded LeMaitre's biologic and dialysis access product offerings.
Capital Expenditures
- In the 12 months prior to March 2026, LeMaitre Vascular's capital expenditures amounted to $6.78 million.
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| 07312021 | LMAT | LeMaitre Vascular | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -24.4% | -6.7% | -27.8% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 88.84 |
| Mkt Cap | 4.1 |
| Rev LTM | 956 |
| Op Inc LTM | 118 |
| FCF LTM | 146 |
| FCF 3Y Avg | 104 |
| CFO LTM | 182 |
| CFO 3Y Avg | 126 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.3% |
| Rev Chg 3Y Avg | 8.9% |
| Rev Chg Q | 13.4% |
| QoQ Delta Rev Chg LTM | 3.1% |
| Op Inc Chg LTM | 29.9% |
| Op Inc Chg 3Y Avg | 19.8% |
| Op Mgn LTM | 10.8% |
| Op Mgn 3Y Avg | 12.1% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 18.1% |
| CFO/Rev 3Y Avg | 17.9% |
| FCF/Rev LTM | 13.5% |
| FCF/Rev 3Y Avg | 13.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 3.0 |
| P/Op Inc | 33.5 |
| P/EBIT | 26.3 |
| P/E | 29.0 |
| P/CFO | 22.4 |
| Total Yield | 1.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.0% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.2% |
| 3M Rtn | 1.5% |
| 6M Rtn | 11.0% |
| 12M Rtn | 15.2% |
| 3Y Rtn | 13.5% |
| 1M Excs Rtn | -9.8% |
| 3M Excs Rtn | -6.2% |
| 6M Excs Rtn | -4.2% |
| 12M Excs Rtn | -14.6% |
| 3Y Excs Rtn | -65.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Development, manufacturing, and marketing of medical devices and implants, as well as the processing | 220 | 193 | |||
| Single segment | 162 | 154 | 129 | ||
| Total | 220 | 193 | 162 | 154 | 129 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Development, manufacturing, and marketing of medical devices and implants, as well as the processing | 44 | ||||
| Total | 44 |
Price Behavior
Price Behavior
| Market Price | $99.52 | |
| Market Cap ($ Bil) | 2.3 | |
| First Trading Date | 10/19/2006 | |
| Distance from 52W High | -15.0% | |
| 50 Days | 200 Days | |
| DMA Price | $108.62 | $93.97 |
| DMA Trend | up | up |
| Distance from DMA | -8.4% | 5.9% |
| 3M | 1YR | |
| Volatility | 57.9% | 36.6% |
| Downside Capture | 23.96 | 44.20 |
| Upside Capture | 47.31 | 55.44 |
| Correlation (SPY) | 14.5% | 22.6% |
LMAT Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 0.83 | 0.50 | 0.49 | 0.54 | 0.73 |
| Up Beta | 0.94 | 0.95 | 0.67 | 0.60 | 0.71 | 0.74 |
| Down Beta | 7.12 | 1.19 | 1.42 | 1.03 | 0.79 | 0.73 |
| Up Capture | 52% | 75% | 85% | 56% | 35% | 58% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 15 | 25 | 38 | 65 | 132 | 396 |
| Down Capture | 31% | 60% | -51% | -1% | 35% | 86% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 7 | 18 | 26 | 60 | 120 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMAT | |
|---|---|---|---|---|
| LMAT | 18.6% | 36.8% | 0.52 | - |
| Sector ETF (XLV) | 12.0% | 14.7% | 0.55 | 20.4% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 22.5% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | 1.8% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | -18.8% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 30.3% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | 9.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMAT | |
|---|---|---|---|---|
| LMAT | 16.3% | 36.3% | 0.50 | - |
| Sector ETF (XLV) | 5.4% | 14.6% | 0.19 | 31.6% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 37.1% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 6.6% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 2.7% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 35.6% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 19.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LMAT | |
|---|---|---|---|---|
| LMAT | 21.6% | 41.5% | 0.61 | - |
| Sector ETF (XLV) | 9.8% | 16.5% | 0.48 | 36.6% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 38.9% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 3.6% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 8.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 33.8% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 13.0% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/25/2026 | 24.4% | 16.4% | 21.0% |
| 11/6/2025 | 1.4% | 4.7% | -3.0% |
| 8/5/2025 | 8.9% | 10.3% | 13.6% |
| 2/27/2025 | -8.1% | -17.4% | -16.7% |
| 10/31/2024 | 7.3% | 14.3% | 19.5% |
| 8/1/2024 | -1.4% | -3.8% | 4.9% |
| 2/27/2024 | 14.4% | 8.6% | 8.5% |
| 11/1/2023 | -2.4% | 3.4% | 12.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 11 |
| # Negative | 8 | 8 | 8 |
| Median Positive | 7.3% | 4.7% | 8.5% |
| Median Negative | -7.8% | -8.4% | -7.4% |
| Max Positive | 24.4% | 16.4% | 21.0% |
| Max Negative | -19.1% | -17.4% | -16.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 70.50 Mil | 71.50 Mil | 72.50 Mil | 7.4% | Raised | Guidance: 66.60 Mil for Q1 2026 | |
| Q2 2026 Operating Income | 20.80 Mil | 21.60 Mil | 22.30 Mil | 24.1% | Raised | Guidance: 17.40 Mil for Q1 2026 | |
| Q2 2026 EPS | 0.79 | 0.81 | 0.84 | 22.7% | Raised | Guidance: 0.66 for Q1 2026 | |
| Q2 2026 Gross Margin | 72.1% | ||||||
| Q2 2026 Operating Margin | 30.0% | ||||||
| 2026 Revenue | 277.00 Mil | 280.00 Mil | 283.00 Mil | 0 | Affirmed | Guidance: 280.00 Mil for 2026 | |
| 2026 Operating Income | 77.60 Mil | 79.80 Mil | 82.00 Mil | 2.5% | Raised | Guidance: 77.85 Mil for 2026 | |
| 2026 EPS | 2.93 | 3 | 3.08 | 3.1% | Raised | Guidance: 2.91 for 2026 | |
| 2026 Gross Margin | 72.3% | ||||||
| 2026 Operating Margin | 29.0% | ||||||
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 65.60 Mil | 66.60 Mil | 67.60 Mil | ||||
| Q1 2026 Operating Income | 16.70 Mil | 17.40 Mil | 18.10 Mil | ||||
| Q1 2026 EPS | 0.64 | 0.66 | 0.69 | ||||
| 2026 Revenue | 276.00 Mil | 280.00 Mil | 284.00 Mil | ||||
| 2026 Operating Income | 75.00 Mil | 77.85 Mil | 80.70 Mil | ||||
| 2026 EPS | 2.81 | 2.91 | 3.01 | ||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lemaitre, George W | Chairman and CEO | Direct | Sell | 5112026 | 108.69 | 27,881 | 3,030,400 | 155,429,480 | Form |
| 2 | Kamke, Trent G | Senior V. P., Operations | Direct | Sell | 5112026 | 107.00 | 2,928 | 313,287 | 401,131 | Form |
| 3 | Lemaitre, George W | Chairman and CEO | Direct | Sell | 5112026 | 107.64 | 18,600 | 2,002,013 | 156,921,212 | Form |
| 4 | Ross, Bridget A | Direct | Sell | 5112026 | 111.10 | 5,044 | 560,366 | 437,939 | Form | |
| 5 | Jasinski, Lawrence J | Direct | Sell | 5112026 | 110.00 | 3,943 | 433,730 | 518,540 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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